Y's table corporation, The Current Fiscal Year Ordinary Profit Revised Downward by 22%

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Tue Oct 15, 2024 3:30 pm JST Earnings

2798 Y's table corporation 【J-GAAP】

Earnings Report

Y's table corporation <2798> [TSE-S] announced its financial results after the market closed on October 15th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending February 2025 (March to August) decreased by 19.7% from the same period last year to 106 million yen, resulting in a decrease in profits compared to the previous forecast of a 6.1% increase.

In addition, the full-year consolidated ordinary profit has downwardly by 22.1%, from the previous forecast of 434 million yen to 338 million yen (compared to 311 million yen in the previous period), leading to a reduction in the profit growth rate from 39.5% to 8.7%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the September to February period (second half) is expected to grow by 29.6% from the same period last year, reaching 232 million yen.

In the most recent three-month period, from June to August (2Q), the consolidated ordinary profit/loss turned to a loss of 37 million yen (compared to a profit of 19 million yen in the same period last year). The operating profit/loss margin worsened from -1.0% in the same period last year to -2.7%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Mar - Aug, 2022	4,540	-351	58	16	5.3	39.5	Oct 14, 2022	J-GAAP
Mar - Aug, 2023	5,537	83	132	78	23.8	42.4	Oct 13, 2023	J-GAAP
Mar - Aug, 2024	5,944	64	106	78	23.8	31.4	Oct 15, 2024	J-GAAP
YoY	+7.4%	-22.9%	-19.7%	0.0%	+0.3%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar - Aug, 2024 Guidance	5,902	109	140	137	41.5	0	Apr 15, 2024	J-GAAP
Mar - Aug, 2024 Results	5,944	64	106	78	23.8	0	Oct 15, 2024	J-GAAP
Revision Rate	+0.7%	-41.3%	-24.3%	-43.1%	-42.6%

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2025 Prev	11,936	327	434	427	129.5	0	Apr 15, 2024	J-GAAP
Feb, 2025 New	12,069	225	338	306	92.8	0	Oct 15, 2024	J-GAAP
Revision Rate	+1.1%	-31.2%	-22.1%	-28.3%	-28.3%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Sep - Feb, 2023	5,747	96	179	35	10.7	0	Apr 15, 2024	J-GAAP
Sep - Feb, 2024 Guidance	6,125	161	232	228	69.1	0	Oct 15, 2024	J-GAAP
YoY	+6.6%	+67.7%	+29.6%	+551.4%	+546.1%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Feb, 2023	9,780	-378	147	-72	-23.8	0	Apr 14, 2023	J-GAAP
Feb, 2024	11,284	179	311	113	34.5	0	Apr 15, 2024	J-GAAP
Feb, 2025 Guidance	12,069	225	338	306	92.8	0	Oct 15, 2024	J-GAAP
YoY	+7.0%	+25.7%	+8.7%	+170.8%	+168.7%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jun - Aug, 2023	2,695	-28	19	-3	-0.9	-1.0	Oct 13, 2023	J-GAAP
Sep - Nov, 2023	2,764	28	62	-108	-33.8	1.0	Jan 15, 2024	J-GAAP
Dec - Feb, 2023	2,983	68	117	143	43.7	2.3	Apr 15, 2024	J-GAAP
Mar - May, 2024	3,086	142	143	128	39.1	4.6	Jul 12, 2024	J-GAAP
Jun - Aug, 2024	2,858	-78	-37	-50	-15.3	-2.7	Oct 15, 2024	J-GAAP
YoY	+6.0%	-178.6%	－	-1,566.7%	-1,579.1%